03272017Headline:
Rupee report - Rupee volatile against US dollar

Rupee report – Rupee volatile against US dollar

Rupee report Rupee volatile against dollar The rupee remained volatile against the dollar in both the interbank and open markets last week, as trading was restricted to three days. On the interbank market, the rupee commenced the week by losing 19 paisas reportedly owing to a strong demand for the dollar. The reserve currency ended the first trading session at Rs104.92 and Rs104.94 against the prior week’s close of Rs104.73 and Rs104.75. However, the rupee managed to recover four paisas for buying and 10 paisas for selling in the second trading session, as the dollar slipped to Rs104.85 and Rs104.90. The dollar appreciated by five paisas against the rupee in both the interbank and the open markets last week.The rupee continued its upward march in the third trading session, when it recorded fresh gains of seven paisas for buying and 10 paisas for selling. The greenback thus closed the week at Rs104.78 and Rs104.80. As a result, the dollar appreciated by a net five paisas against the rupee in the interbank market last week. But the rupee is up 0.69pc against the dollar so far this month, according to independent reports. Meanwhile, trading remained suspended on Thursday and Friday owing to public holidays on account of Eid Miladun Nabi (PBUH) and Quaid-e-Azam’s birth anniversary respectively. A similar pattern was observed in the open market, where the rupee began the week by losing 10 paisas for buying and 15 paisas for selling, with the dollar ending the first trading session at Rs106.20 and Rs106.50 against the prior week’s close of Rs106.10 and Rs106.35. However, the [...]
Russian markets turmoil

Russian markets turmoil as rouble tumbles to new low

Russian markets turmoil as rouble tumbles to new low from the dollar and euro Political uncertainty has sent shock-waves over the Russian economy. Moscow stock markets opened on Monday with the country’s standard index taking its largest drop in five years.The rouble fell to an all time low as the central bank unexpectedly raised its key lending rate to 7 percent from 5.5 percent. “Of program traders couldn’t help spot the foreign-policy events, international events which occurred within the weekend when markets closed. It’d a direct effect to the rouble. The currency is certainly going down in the Moscow trade both against against the euro and the dollar. However The regular response in the central bank that raised a vital rate of interest made an instantaneous impression,” described Moscow Trade spokesman Nikita Bekaso. Experts estimate Monday’s sharp drop might drop further, with one saying there clearly was a sell off of everything and traders were performing with a “special fervour”. It’s noted the Russian Central Bank has offered as much as $10 billion supplies to aid the rouble because it hit an archive low. Several trades weren’t prepared for that greater demand to the buck with a few personal people reporting they’d go out of the currency. It came at the same time once the central bank hasbeen trying to rein in inflation and convenience currency shifts. “I don’t really have any positive thoughts – nothing good really. I believe for what’s happened the reason why are very obvious. The political situation, low GDP growth [...]